Business

Phu Tho emerges as FDI magnet following mergence

In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.

A motorbike production line of Honda Vietnam — a Japanese company located in Phu Tho province. (Photo: VNA)
A motorbike production line of Honda Vietnam — a Japanese company located in Phu Tho province. (Photo: VNA)

Phu Tho (VNA) – The northern province of Phu Tho, leveraging its strategic location and sound administrative procedures following the administrative merger of Phu Tho, Hoa Binh, and Vinh Phuc provinces, has lured the attention of multiple foreign investors.

Located adjacent to Hanoi, Phu Tho boasts abundant natural resources that have captured the interest of major global investors. The province has committed to creating an open and transparent business environment and improving public service delivery to welcome enterprises.

In the first seven months of the year, the locality attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.

Several large-scale projects have already broken ground, including social housing development, urban projects, and tourism initiatives such as the Cuoi Ha cable car system and Serena Resort. Most notably, the province has approved the Viet Tri golf course project, spanning 65 hectares with total investment of over 1 trillion VND (38.1 million USD).

The domestic business sector has demonstrated impressive growth momentum. The province witnessed the establishment of 2,976 new enterprises, representing a 92.9% increase compared to the same period last year, with total registered capital exceeding 26 trillion VND. Additionally, approximately 964 enterprises have resumed production and business operations.

During the seven-month span, as much as 13.8 trillion VND was disbursed, or 73.8% of the plan set by the Prime Minister and 46.5% of total allocated planned capital.

Director of the provincial Department of Finance Vuong Thi Bay said that the province has pursued targeted investment promotion, prioritising strategic partners. Key focus markets include the Republic of Korea, Japan, Singapore, France, Germany, Italy, Spain, Russia, the UK, and the US./.

VNA
#Phu Tho #administrative merger #foreign investors Phu Tho
Follow VietnamPlus

Post-pandemic recovery

Related News

Local staples are introduced at Xuan Son National Park (Photo: baophutho.vn)

Phu Tho province gears up for vibrant summer

The northern midland province of Phu Tho has carried out all-round measures to improve tourism infrastructure, services, and offerings, elevating visitor experience and reinforcing the province’s unique cultural identity.

See more

An LNG tanker docks at the Thi Vai LNG terminal in Ho Chi Minh City (Photo: VNA)

Solutions proposed to support firms amid Middle East conflict impacts

Top priority should be given to stabilising energy prices to ease input cost pressures and ensure supply stability – the most widely supported recommendation, chosen by 61.9% of surveyed firms. Businesses urged close monitoring of global fuel prices and supply risks, along with flexible measures to curb abnormal domestic price fluctuations and secure supplies of fuel and essential materials.

Nguyen Viet Tu (right) and a cooperative technician inspect a bird’s eye chilli field ready for harvest for export to European countries. (Photo: VNA)

Vietnamese herbs gain ground in European market

The Chau Pha Agricultural Production and Services Cooperative model is widely seen as an illustration of a new direction for Vietnam’s agriculture sector, one that combines clean production practices, modern management and proactive engagement with global markets.

Garment production for export to the EU at the TNG company in Thai Nguyen province (Photo: VNA)

Businesses pivot strategies to sustain export growth momentum

Enterprises are shifting toward reasonably priced, easy-to-consume products such as tra fish, tilapia, canned items and surimi, instead of focusing mainly on high-end products like large-sized shrimp, which are facing weaker demand in some markets.

Border guards inspect and verify fishing vessels’ documents and procedural records before departure. (Photo: VNA)

Hue accelerates tech upgrades, strengthens vessel monitoring to combat IUU fishing

During the first quarter, the Department of Agriculture and Environment worked closely with city police and the Border Guard Command to inspect and supervise so-called “three-no” fishing vessels — those lacking registration, licences, or inspection certification — along with boats deemed ineligible for operation in Thuan An, Quang Dien, Vinh Loc, and Chan May–Lang Co.

Officials of former Ninh Thuan province (which is part of Khanh Hoa province now) inspect the progress of Bac Ai pumped-storage hydropower plant. (Photo: VNA)

Efforts made to keep Bac Ai pumped-storage hydropower project on schedule

The project, which is included in the approved National Power Development Plan for 2021–2030 with a vision towards 2050, is developed to strengthen national energy security, support a circular economy and contribute to Vietnam’s commitment to achieving net-zero emissions by 2050, as pledged at the COP26 climate conference.

NSMO Chairman Nguyen Duc Cuong speaks at the event (Photo: VNA)

Experts seek to improve power dispatch in new energy era

Electricity demand is expected to rise strongly, while global energy markets remain volatile. In this context, rooftop solar and BESS are emerging as key solutions to improve flexibility and ensure supply, especially during peak periods.

Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA)

Enterprises must pioneer in achieving double-digit economic growth from 2026: PM

Reports delivered at the conference showed that Vietnam had about 1 million active enterprises by late 2025, up more than 25% from 2020, contributing roughly 60% of GDP and employing more than 16 million workers. They also account for the bulk of the country’s trade turnover, while Vietnam ranks among the world’s top 15 destinations for foreign direct investment.

Visitors browse the Vietnamese product display booths at the "Vitality of Vietnamese Goods" exhibition and livestream in Hanoi from March 7-9, 2026. (Photo: VNA)

Vietnamese goods promotion: Greater transparency needed

As transparency, traceability and social responsibility increasingly become essential entry requirements, proactive compliance will give Vietnamese enterprises a clear advantage in building trust among international partners.

Trade Counsellor Hoang Duc Nhuan of the Vietnam Trade Office in Algeria speaks at the online export consultancy session on the markets of Algeria, Senegal and Tunisia for more than 40 Vietnamese agencies and enterprises on March 26. (Photo: VNA)

Opportunities for Vietnamese businesses to promote exports to African markets

Vietnamese exporters were advised to seek partners through reputable channels and to use secure payment methods, such as irrevocable letters of credit confirmed by trusted European or American banks, or documentary collection with a deposit of at least 20% of the contract value. Deferred payment arrangements should be avoided.